Prominent Chief Says PoS Operators Selling 1k New Naira Notes For N4,000 In Abraka, Blasts Banks

By Daniel Dafe

Spokesman of Umiaghwa Abraka kingdom in Ethiope East Local Government Area of Delta State, Chief Nath Anho, has said that PoS operators are selling the new naira notes for old ones at alarming rates to residents in Abraka, saying this has caused untoward hardship to the people in the area.

The prominent chief who said this on Tuesday during a telephone conversation with Oasis Magazine, blamed the banks for the ugly trend.

He said: “When PoS operators go to the banks, the banks tell them that they do not have the new naira notes, thereby creating artificial scarcity in the university town.”

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He continued: “The few PoS operators that could lobby their way to get the new naira notes are selling N1,000 new notes for N4,000 of the old ones.”

He thus called on the Central Bank of Nigeria, CBN, to send their officials to monitor banks in Abraka.

Adding: “Maybe its EFCC that we need in this community now to tackle this menace.”

The banks are disappointing the people of Abraka and relevant agencies must put a stop to this, he said.